At least three Australian institutions are poised to appoint a specialist private equity administrator, as JPMorgan rolls out its offering this quarter.
JPMorgan Private Equity Fund Services (PEFS), whose latest US client is food/media/energy buyout specialist HM Capital Partners, will transfer a senior staffer from New York, Amy Newlan, to oversee its Australian launch this quarter. The division will first offer its portfolio administration service for private equity fund-of-funds or super funds, as it is able to be integrated straight into the global Investrans platform which JPMorgan has developed with Sungard over the past eight years. Bryan Gray, local head of sales at JPMorgan Worldwide Securities Services, said: “;We are currently in discussions with three of our clients who are impressed with the online reporting capabilities. Australia is a centre of excellence for JPMorgan WSS and PEFS is a key area of focus due to sophisticated clients and ongoing market growth.”; Gray has previously said there are currently about six clients in Australia with a large enough private equity portfolio to be interested in PEFS.
The $34 billion Brighter Super is set to shift around $10 billion of assets from passive to active management. Chief investment officer Mark Rider says the move is possible because of scale created by mergers, and the fund will be looking to its newly appointed active managers to generate performance through the cycle by taking idiosyncratic risks.
Darcy SongJanuary 21, 2025
